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Hedge fund exposure to US junk bonds has hit its highest level since the start of the global pandemic according to a report by Bloomberg. Pension funds meanwhile have cut their holdings in response to concerns about corporate debt.
The report cites data from Barclays as showing that that hedge funds have increased their holdings in high-yield bonds from 12.4% last year to 14.5 per cent currently, following a 26% fall in total junk market value.
Pension fund allocations meanwhile, have fallen by more than 20% this year to around pre-pandemic levels, according to the data, while insurance companies have
Hedge fund saw net outflows of $21 billion in September, more than twice the usual September average recorded between 2014 and 2021, according to the latest asset flows report from eVestment. September was also the fourth consecutive month negative hedge fund flows.
There report highlights that although 2022 started well in terms of inflows, by the end of Q3, net outflows reached $63 billion, putting 2022 on track for the second-largest annual net outflow since 2009.
The highest redemptions in September were from macro, long-short equity, and multi-strategy funds, with a total of $5.2 billion withdrawn from macro funds despite
Kedge Capital, the company which makes private equity and hedge fund investments on behalf of Ernesto Bertarelli, one of Switzerland’s richest men, and his family, is looking to attract other ultra-wealthy investors, according to a report by Bloomberg.
Drawbridge, a provider of cybersecurity software and solutions for the private equity, hedge fund, and venture capital sectors, has appointed William (Bill) Haney as its chief executive officer (CEO) and appointed him to its board of directors.
The winers of the annual Hedgeweek US Awards, which recognise excellence among fund managers and service providers in the US across a wide range of categories, have been announced.
Boaz Weinstein, boss of New York-based hedge fund Saba Capital, is “very pessimistic” about the current investment climate and believes global stocks could be heading for a decades-long, Japan-style bear market, according to a report by The Financial Times.
Brevan Howard Asset Management is preparing to launch a new share class for some clients of its main hedge fund strategy which will allow it to introduce so-called “pass through” fees, according to a report by Bloomberg.
The report cites unnamed sources and regulatory filings as confirming that the fund intends to use the new share class to raise additional money for its main $10 billion strategy which has till now been closed to new investment.
Many large hedge fund companies that employ multiple, traders to run a range of divers strategies are starting to replace or supplement their standard
Hedge funds have slashed their portfolio leverage this year according to a report by Bloomberg which cites data from Goldman Sachs’ prime brokerage as revealing that net leverage, a measure of industry risk appetite that takes into account long versus short positions, has fallen by almost 20 percentage points to a year low of 66%.
Illinois Teachers Retirement System (TRS) has fully redeemed a $264 million investment with quantitative hedge fund manager PDT Partners from its $4.3 billion diversifying strategies portfolio, which includes hedge funds and risk-parity strategies.
According to a press release issued following a board meeting in October, the pension fund announced the termination of a total of $1.1 billion in investments across three strategies, as well as $2.6 billion in additional alternative investment commitments and manager hires made between August and October.
TRS made an additional $800 million allocation to three existing managers in its $12.4 billion real assets portfolio –
Options Technology, a capital markets services provider, has achieved VMware Cloud Verified status in TR2 Toronto. The accomplishment follows the VMware Cloud Provider Principal Partner Status awarded to the firm last year. Options also holds Cloud Verified status at NJ2, PRDC, LHC, LD4 and NY5 sites.
Cloud Verification assures that a partner is validated to expertly deliver cloud Infrastructure-as-a-Service across VMware’s best-in-class network, storage, and compute solutions to meet specific individual client needs.
It also enables customers to achieve unmatched consistency, performance, and interoperability levels for traditional and containerised enterprise applications based on the most advanced VMware cloud technologies.
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